Section 20
SEC. 20. A new article is inserted in Chapter XVIII on the Miscellaneous Provisions of the same Code and shall read as follows: "ART. 138. Joint Congressional Oversight Committee on Cooperatives (JCOCC). — There is hereby created a Joint Congressional Oversight Committee composed of the Chairman of the Senate Committee on Cooperatives and the Chairman of the House Committee on Cooperatives Development with four (4) members each from both Houses. The said members shall be duly appointed by the Senate President and the Speaker of the House of Representatives from the members of the respective committees based on the proportional representation of the parties or coalition therein. "The Joint Oversight Committee shall review and approve the implementing rules and regulations of this Code and monitor its proper implementation. "The annual appropriation for the oversight committee shall be charged to the budget of both Houses of Congress in the General Appropriations Act (GAA)."